Daily Pivots: (S1) 0.8684; (P) 0.8708; (R1) 0.8746; More…
EUR/GBP’s rebound from 0.8643 extended first and intraday bias stays on the upside. Sustained trading above 55 D EMA (now at 0.8717) will argue that whole fall from 0.8863 has already completed as a correction. Retest of 0.8863 should be seen next. Nevertheless, rejection by the 55 D EMA will bring another decline to 0.8631 cluster support (38.2% retracement of 0.8221 to 0.8663 at 0.8618).
In the bigger picture, rise from 0.8221 medium term bottom (2024 low) is seen as a corrective move. Upside should be limited by 61.8% retracement of 0.9267 to 0.8221 at 0.8867. Sustained trading below 55 W EMA (now at 0.8623) should confirm that this corrective bounce has completed. In this case, deeper fall would be seen back to 0.8201/21 key support zone. However, decisive break of 0.8867 will suggest that EUR/GBP is already reversing whole decline from 0.9267 (2022 high). That should pave the way back to 0.9267.
 will argue that whole fall from 0.8863 has already completed as a correction. Retest of 0.8863 should be seen next. Nevertheless, rejection by the 55 D EMA will bring another decline to 0.8631 cluster support (38.2% retracement of 0.8221 to 0.8663 at 0.8618).){kind=link}